Bitcoin Suffers Biggest Drop in 10 Days Following Trump’s Remarks
-
Bitcoin Suffered its heaviest drop in the last 10 days after consolidating for more than a week
-
Following negative remarks by former U.S. President Donald Trump and regulations tightening in China, the coin has lost more than 10% of its value
-
The value of the cryptocurrency fell from above $35,000 to all low as $32,000
The price of Bitcoin has fallen to its lowest point in over a week, following negative comments from former US President Donald Trump and regulation in China.
In the early hours of Monday, the cryptocurrency fell as low as $32,100 before climbing back to $33,000
The drop which is almost 10% marks its highest since May 28 a mod huge selling pressure.
The drop of the cryptocurrency was triggered by comments that Trump made in an interview with Fox Business Network.
The controversial businessman referred to Bitcoin as a “scam against the dollar”.
There crackdown of cryptocurrency in China is also responsible for the decline in the crypto market.
The Asian country recently put a ban on crypto mining activities, block Weibo accounts and forcing operators to end operations.
Many other notable cryptocurrencies have been affected by the decline in the value of BTC.
BNB, Polkadot and XRP we’re among the hardest hit, losing over 10% each.
Follow Naija.fm on our social media handles Facebook, Instagram, and Twitter to keep up with trending news, breaking news, entertainment news.
